Global Automotive Electric Power Steering Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast 2024 to 2032

Description

List of Tables

The global demand for Automotive Electric Power Steering Market is presumed to reach the market size of nearly USD 50.38 Billion by 2032 from USD 29.34 Billion in 2023 with a CAGR of 6.19% under the study period 2024 - 2032.

Automotive electric power steering (EPS) is a vehicle steering system that replaces traditional hydraulic power steering with electrically assisted steering mechanisms. EPS systems utilize electric motors to provide steering assistance, improving fuel efficiency, responsiveness, and overall vehicle handling. Automobile EPS reduces maintenance requirements and enhances driver comfort and control by eliminating the need for hydraulic fluid and mechanical components.

MARKET DYNAMICS

The market for automotive electric power steering (EPS) is driven by several factors that address the growing demand for advanced steering systems in modern vehicles. Firstly, stringent fuel efficiency regulations and emissions standards drive market growth as automakers seek to improve fuel economy and reduce carbon emissions by replacing traditional hydraulic power steering systems with more energy-efficient electric power steering solutions. EPS systems offer improved fuel efficiency by eliminating the parasitic losses associated with hydraulic systems, thus appealing to consumers and automakers focused on sustainability and environmental responsibility. Secondly, advancements in automotive technology, including the development of electric and autonomous vehicles, drive the market demand for EPS systems with advanced features such as lane-keeping assist, adaptive steering, and self-parking capabilities. These features enhance vehicle safety, comfort, and convenience, driving consumer preference for vehicles equipped with EPS systems. Thirdly, the growing trend towards vehicle electrification and the adoption of electric powertrains create opportunities for market expansion as automakers increasingly integrate EPS systems into electric and hybrid vehicles to optimize energy efficiency and enhance driving dynamics.

Additionally, the globalization of the automotive industry and the expansion of emerging markets drive market growth as automakers invest in developing and producing automotive electric power steering (EPS) systems to meet the growing demand for vehicles in regions such as Asia-Pacific and Latin America. Moreover, the increasing focus on driver assistance systems and vehicle connectivity further stimulates market demand for EPS systems with features such as adaptive cruise control, collision avoidance, and vehicle-to-vehicle communication. However, the emergence of autonomous driving technologies and advancements in vehicle steering systems may challenge the automotive electric power steering (EPS) market growth in the coming years.

The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of automotive electric power steering. The growth and trends of Automotive Electric Power Steering Industry provide a holistic approach to this study.

MARKET SEGMENTATION

This section of the automotive electric power steering market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.

By Motor Assist

Column Assist
Pinion Assist
Rack Assist

By Technology

Conventional Eps
Eps With Adas

By Component

Eps Control Module
Electric Motor
Rack & Pinion
Steering Column

By Vehicle Type

Passenger Vehicle (Hatchback, Sedan, Utility Vehicles)
Light Commercial Vehicles
Heavy Duty Trucks
Buses & Coaches

REGIONAL ANALYSIS

This section covers the regional outlook, which accentuates current and future demand for the Automotive Electric Power Steering market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.

The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the automotive electric power steering market include Jtekt Corporation, Denso Corporation, Sona Koyo Steering Systems Ltd., ZF Friedrichshafen, GKN plc, Robert Bosch GmbH, NSK Ltd., Mitsubishi Electric Corporation, China Automotive Systems, Inc., Delphi Technologies, Hyundai Mobis, Thyssenkrupp, Showa Corporation, Mando Corp., Global Steering Systems, Zhejiang Shibao Company Limited. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.

In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.

Product Code: VMR112114165

1 . PREFACE

1.1. Report Description
- 1.1.1. Objective
- 1.1.2. Target Audience
- 1.1.3. Unique Selling Proposition (USP) & offerings
1.2. Research Scope
1.3. Research Methodology
- 1.3.1. Market Research Process
- 1.3.2. Market Research Methodology

2 . EXECUTIVE SUMMARY

2.1. Highlights of Market
2.2. Global Market Snapshot

3 . AUTOMOTIVE ELECTRIC POWER STEERING - INDUSTRY ANALYSIS

3.1. Introduction - Market Dynamics
3.2. Market Drivers
3.3. Market Restraints
3.4. Opportunities
3.5. Industry Trends
3.6. Porter's Five Force Analysis
3.7. Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Motor Assist
- 3.7.2 Market Attractiveness Analysis By Technology
- 3.7.3 Market Attractiveness Analysis By Component
- 3.7.4 Market Attractiveness Analysis By Vehicle Type
- 3.7.5 Market Attractiveness Analysis By Region

4 . VALUE CHAIN ANALYSIS

4.1. Value Chain Analysis
4.2. Raw Material Analysis
- 4.2.1. List of Raw Materials
- 4.2.2. Raw Material Manufactures List
- 4.2.3. Price Trend of Key Raw Materials
4.3. List of Potential Buyers
4.4. Marketing Channel
- 4.4.1. Direct Marketing
- 4.4.2. Indirect Marketing
- 4.4.3. Marketing Channel Development Trend

5 . GLOBAL AUTOMOTIVE ELECTRIC POWER STEERING MARKET ANALYSIS BY MOTOR ASSIST

5.1 Overview by Motor Assist
5.2 Historical and Forecast Data
5.3 Analysis by Motor Assist
5.4 Column Assist Historic and Forecast Sales by Regions
5.5 Pinion Assist Historic and Forecast Sales by Regions
5.6 Rack Assist Historic and Forecast Sales by Regions

6 . GLOBAL AUTOMOTIVE ELECTRIC POWER STEERING MARKET ANALYSIS BY TECHNOLOGY

6.1 Overview by Technology
6.2 Historical and Forecast Data
6.3 Analysis by Technology
6.4 Conventional Eps Historic and Forecast Sales by Regions
6.5 Eps With Adas Historic and Forecast Sales by Regions

7 . GLOBAL AUTOMOTIVE ELECTRIC POWER STEERING MARKET ANALYSIS BY COMPONENT

7.1 Overview by Component
7.2 Historical and Forecast Data
7.3 Analysis by Component
7.4 Eps Control Module Historic and Forecast Sales by Regions
7.5 Electric Motor Historic and Forecast Sales by Regions
7.6 Rack & Pinion Historic and Forecast Sales by Regions
7.7 Steering Column Historic and Forecast Sales by Regions

8 . GLOBAL AUTOMOTIVE ELECTRIC POWER STEERING MARKET ANALYSIS BY VEHICLE TYPE

8.1 Overview by Vehicle Type
8.2 Historical and Forecast Data
8.3 Analysis by Vehicle Type
8.4 Passenger Vehicle (Hatchback, Sedan, Utility Vehicles) Historic and Forecast Sales by Regions
8.5 Light Commercial Vehicles Historic and Forecast Sales by Regions
8.6 Heavy Duty Trucks Historic and Forecast Sales by Regions
8.7 Buses & Coaches Historic and Forecast Sales by Regions

9 . GLOBAL AUTOMOTIVE ELECTRIC POWER STEERING MARKET ANALYSIS BY GEOGRAPHY

9.1. Regional Outlook
9.2. Introduction
9.3. North America Sales Analysis
- 9.3.1. Overview, Historic and Forecast Data Sales Analysis
- 9.3.2. North America By Segment Sales Analysis
- 9.3.3. North America By Country Sales Analysis
- 9.3.4. United State Sales Analysis
- 9.3.5. Canada Sales Analysis
- 9.3.6. Mexico Sales Analysis
9.4. Europe Sales Analysis
- 9.4.1. Overview, Historic and Forecast Data Sales Analysis
- 9.4.2. Europe by Segment Sales Analysis
- 9.4.3. Europe by Country Sales Analysis
- 9.4.4. United Kingdom Sales Analysis
- 9.4.5. France Sales Analysis
- 9.4.6. Germany Sales Analysis
- 9.4.7. Italy Sales Analysis
- 9.4.8. Russia Sales Analysis
- 9.4.9. Rest Of Europe Sales Analysis
9.5. Asia Pacific Sales Analysis
- 9.5.1. Overview, Historic and Forecast Data Sales Analysis
- 9.5.2. Asia Pacific by Segment Sales Analysis
- 9.5.3. Asia Pacific by Country Sales Analysis
- 9.5.4. China Sales Analysis
- 9.5.5. India Sales Analysis
- 9.5.6. Japan Sales Analysis
- 9.5.7. South Korea Sales Analysis
- 9.5.8. Australia Sales Analysis
- 9.5.9. South East Asia Sales Analysis
- 9.5.10. Rest Of Asia Pacific Sales Analysis
9.6. Latin America Sales Analysis
- 9.6.1. Overview, Historic and Forecast Data Sales Analysis
- 9.6.2. Latin America by Segment Sales Analysis
- 9.6.3. Latin America by Country Sales Analysis
- 9.6.4. Brazil Sales Analysis
- 9.6.5. Argentina Sales Analysis
- 9.6.6. Peru Sales Analysis
- 9.6.7. Chile Sales Analysis
- 9.6.8. Rest of Latin America Sales Analysis
9.7. Middle East & Africa Sales Analysis
- 9.7.1. Overview, Historic and Forecast Data Sales Analysis
- 9.7.2. Middle East & Africa by Segment Sales Analysis
- 9.7.3. Middle East & Africa by Country Sales Analysis
- 9.7.4. Saudi Arabia Sales Analysis
- 9.7.5. UAE Sales Analysis
- 9.7.6. Israel Sales Analysis
- 9.7.7. South Africa Sales Analysis
- 9.7.8. Rest Of Middle East And Africa Sales Analysis

10 . COMPETITIVE LANDSCAPE OF THE AUTOMOTIVE ELECTRIC POWER STEERING COMPANIES

10.1. Automotive Electric Power Steering Market Competition
10.2. Partnership/Collaboration/Agreement
10.3. Merger And Acquisitions
10.4. New Product Launch
10.5. Other Developments

11 . COMPANY PROFILES OF AUTOMOTIVE ELECTRIC POWER STEERING INDUSTRY

11.1. Company Share Analysis
11.2. Market Concentration Rate
11.3. Jtekt Corporation
- 11.3.1. Company Overview
- 11.3.2. Company Revenue
- 11.3.3. Products
- 11.3.4. Recent Developments
11.4. Denso Corporation
- 11.4.1. Company Overview
- 11.4.2. Company Revenue
- 11.4.3. Products
- 11.4.4. Recent Developments
11.5. Sona Koyo Steering Systems Ltd.
- 11.5.1. Company Overview
- 11.5.2. Company Revenue
- 11.5.3. Products
- 11.5.4. Recent Developments
11.6. ZF Friedrichshafen
- 11.6.1. Company Overview
- 11.6.2. Company Revenue
- 11.6.3. Products
- 11.6.4. Recent Developments
11.7. GKN plc
- 11.7.1. Company Overview
- 11.7.2. Company Revenue
- 11.7.3. Products
- 11.7.4. Recent Developments
11.8. Robert Bosch GmbH
- 11.8.1. Company Overview
- 11.8.2. Company Revenue
- 11.8.3. Products
- 11.8.4. Recent Developments
11.9. NSK Ltd.
- 11.9.1. Company Overview
- 11.9.2. Company Revenue
- 11.9.3. Products
- 11.9.4. Recent Developments
11.10. Mitsubishi Electric Corporation
- 11.10.1. Company Overview
- 11.10.2. Company Revenue
- 11.10.3. Products
- 11.10.4. Recent Developments
11.11. China Automotive Systems Inc.
- 11.11.1. Company Overview
- 11.11.2. Company Revenue
- 11.11.3. Products
- 11.11.4. Recent Developments
11.12. Delphi Technologies
- 11.12.1. Company Overview
- 11.12.2. Company Revenue
- 11.12.3. Products
- 11.12.4. Recent Developments
11.13. Hyundai Mobis
- 11.13.1. Company Overview
- 11.13.2. Company Revenue
- 11.13.3. Products
- 11.13.4. Recent Developments
11.14. Thyssenkrupp
- 11.14.1. Company Overview
- 11.14.2. Company Revenue
- 11.14.3. Products
- 11.14.4. Recent Developments
11.15. Showa Corporation
- 11.15.1. Company Overview
- 11.15.2. Company Revenue
- 11.15.3. Products
- 11.15.4. Recent Developments
11.16. Mando Corp.
- 11.16.1. Company Overview
- 11.16.2. Company Revenue
- 11.16.3. Products
- 11.16.4. Recent Developments
11.17. Global Steering Systems
- 11.17.1. Company Overview
- 11.17.2. Company Revenue
- 11.17.3. Products
- 11.17.4. Recent Developments
11.18. Zhejiang Shibao Company Limited.
- 11.18.1. Company Overview
- 11.18.2. Company Revenue
- 11.18.3. Products
- 11.18.4. Recent Developments

Note - in company profiling, financial details and recent development are subject to availability or might not be covered in case of private companies